Data retention is one of the pillars of the GDPR. You can be charged for storing more data than is actually needed. For regulated entities like banks, it is im

Data retention is one of the pillars of the GDPR. You can be charged for storing more data than is actually needed. For regulated entities like banks, it is important to have processes in place and demonstrate them during your annual audit. In case of non-compliance, you may face fines or even lose your license temporarily until the issue is fixed.